The cyber security firm which counts the Bank of England among its clients, raised the series B round from Trinity Ventures and Paladin Capital as well as existing investors Storm Ventures, TenEleven and Passion Capital.
"Given Trinity's long and successful history of investing in the cybersecurity market, we understand how cyber situational awareness has become critical for enterprises,” said Trinity general partner Fred Wang, who will join the Digital Shadows board.
"Digital Shadows’ remarkable growth and the rapid adoption of its SearchLight offering by large enterprises impressed us, as did its strong management team. Trinity’s investment will help Digital Shadows capitalise on the widespread demand for a solution that provides buyers with a ‘beyond the boundary’ view of their organisations,” he added.
Digital Shadows offers companies intelligence on cyber security risks and was named one of Bloomberg's most innovative businesses in the UK.
“With so many security teams struggling to obtain the required relevant intelligence to better protect their organisations, we have seen increasing demand of Digital Shadows' SearchLight," said chief executive and co-founder Alastair Paterson.
"This round will help us accelerate both development and hiring of cybersecurity talent, so that we can continue to empower our clients to achieve cyber situational awareness.”